Calpers supports shareholder resolutions at Exxon Mobl

SteveGelsi

NEW YORK (MarketWatch) -- Nineteen institutional investors that hold 91 million Exxon Mobil
XOM, -0.89%
shares valued at nearly $9 billion voiced support for proxy resolutions on climate change risks and opportunities and to separate the Chairman and CEO positions at the oil giant. The resolutions will be voted on at the Exxon Mobil annual meeting on May 28. Investors supporting the climate/independent chairman resolutions include the California Public Employees' Retirement System, the California State Teachers' Retirement System, the New York State Common Retirement Fund, the New York City Retirement System and the Connecticut Retirement Plans and Trust Funds. Mindy S. Lubber, Ceres president and director of the Investor Network on Climate Risk, said she's optimistic the CEO and chairman measure will top last year's approval vote of 40%.

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